Applying the Terms

Marketing is the process of developing, promoting, and distributing goods and services to meet customer wants and needs.

Goods: tangible (can touch) Example: pen, football, t-shirt

Services: intangible (cannot touch) Example: dry cleaner, waiter, teacher

Target Market: “focuses all marketing decisions on the specific group of people you want to reach”

EXAMPLE: The Target Market for the School Store is high school students, parents, and Falcon fans.

dividing the total market into smaller groups of people who share specific needs & characteristics

Demographics: “statistics that describe a population in terms of personal characteristics” Age Race Gender Income level

Used to describe Target Market

The marketing concept:“states that to make a profit a business must focus all efforts on satisfying the needs & wants of the customer”

The marketing mix: “The 4 P’s”

ProductPlacePricePromotion

Students divide into teams of 2-3 people

Design a new item for the BWHS school store (may use customink.com to complete design)

Apply the Marketing Mix to this new product

Create a PPT presentation to present to class